H.R. 3484: Business Owners Protection Act of 2025

This bill, known as the Business Owners Protection Act of 2025, proposes to eliminate certain regulatory powers of the Securities and Exchange Commission (SEC) that were established under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Here’s what the bill entails:

Key Provisions

• Termination of Unused Authorities: The bill specifies that any regulatory authority granted to the SEC by the Dodd-Frank Act will be terminated if it has not been acted upon by the SEC before January 1, 2025. This means that if the SEC had not issued a notice proposing rules or guidance regarding a particular regulatory requirement by this date, those authorities would cease to exist upon the enactment of the bill.
• Definition of Authorities: The authorities referenced in the bill include those that were added or amended due to the Dodd-Frank Act, which aimed to reform financial regulations following the 2008 financial crisis. The focus is specifically on those powers that allow the SEC discretion in establishing requirements for private entities.
• Reporting Requirement: The SEC is required to provide Congress with a publicly available list of the terminated authorities within 180 days of the bill’s enactment. This ensures transparency regarding which regulatory powers are no longer in effect.

Overall, the bill seeks to streamline the SEC's regulatory powers by removing those that are not actively utilized, potentially reducing the regulatory burden on businesses and promoting a more straightforward regulatory environment.

Relevant Companies

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